GoFintech Quantum Innovation Limited — M&A Activity 2003

Oct 31, 2003

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

VICTORY RIDER LIMITED NEW TIMES GROUP HOLDINGS LIMITED (Incorporated in the British Virgin Islands with limited liability) （新時代集團控股有限公司）[*]

(Incorporated in Bermuda with limited liability)

FURTHER POSTPONEMENT OF DESPATCH OF COMPOSITE OFFER DOCUMENT

Reference is made to the Joint Announcements.

Despatch of the Composite Offer Document by Victory Rider and the Company to the Shareholders regarding the Offer will be further postponed from 31 October 2003 to a date falling on or before 21 November 2003. The postponement of despatch of the Composite Offer Document is to facilitate the collation and compilation of further information to be included in the Composite Offer Document.

Reference is made to the press announcements (the “Joint Announcements”) jointly issued by Victory Rider and the Company dated 26 September 2003 and 17 October 2003 regarding the Offer and the postponement of despatch of Composite Offer Document respectively. Unless otherwise defined, terms used herein shall have the same meanings as those used in the Joint Announcements.

The directors of Victory Rider and the Company announces that, as further time is required to collate and compile further information for inclusion in the Composite Offer Document, there will be a second postponement of the posting of the Composite Offer Document. Application will be made to the Executive for a further extension of time for despatch of the Composite Offer Document from 31 October 2003 to a date falling on or before 21 November 2003.

By order of the board of By order of the board of Victory Rider Limited New Times Group Holdings Limited Ms. Huang Ning Cheong Tin Yau Director Chairman

Hong Kong, 31 October 2003

* For identification purpose only

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The sole director of the Offeror accepts full responsibility for the accuracy of the information contained in this announcement, other than that relating to the Group, and confirms, having made all reasonable enquiries, that to the best of her knowledge, opinions expressed in this announcement, other than those relating to the Group, have been arrived at after due and careful consideration and there are no other facts not contained in this announcement the omission of which would make any statements in this announcement misleading.

The directors of New Times Group Holdings Limited jointly and severally accept full responsibility for the accuracy of the information contained in this announcement, other than that relating to the Offeror, and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed by them in this announcement, other than that relating to the Offeror, have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statements in this announcement misleading.

“Please also refer to the published version of this announcement in China Daily”.

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